Two landmark OTC trades based on the offshore renminbi interbank lending benchmark were readied last week. However, lack of overall liquidity meant the one-year deals were based on three-month lending data.
Clearing of renminbi in Singapore has begun. The first reported Singapore dollar/renminbi spot trade was completed by Deutsche bank for a client based on the offshore renminbi rate.
The Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA) both announced plans that could further open up the marketplace for offshore renminbi in Hong Kong.
The Bank of England and the China's central bank will sign a three-year FX swap agreement. Will this increase the use of renminbi for trade in the UK and Europe and what more needs to be done? CT asks the experts.
Exchange and rates of renminbi inside Taiwan are expected to move in line with offshore CNH market rates in the near term. Will exchange and interest rate regimes in Taiwan converge with Hong Kong's? CT asks the experts.
China’s regulators are freeing up the movement of renminbi and FX from China via a series of pilots. What does this mean for the offshore CNH market in 2013, if anything? CT asks the experts.